Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the Ugly /
We revisit the empirical relationship between private/public debt and output, and build a model that reproduces it. In the model, the government provides financial assistance to credit-constrained agents to mitigate deleveraging. As we observe in the data, surges in private debt are potentially more...
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| 其他作者: | , |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2016.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2016/104 |
| 在线阅读: | Full text available on IMF |